Preparing to shrug...
Posted on 08/12/2009 11:49:00 AM PDT by Liberty Ship
This will make you sick. The first video is the report on WSB-TV Atlanta yesterday on "distressed" homeowners, often unemployed, getting their mortgages refinanced with government backing down from as high as 11% down to 2%, 30 year fixed. What is worse is the second video, raw footage that shows the scope of the effort -- the length of the line of moochers waiting to get in so we can bail them out. I'm kind of shocked at the numbers. While Obama was trying to kill us with "health care" with his right hand, he was transferring the rest of our wealth and future to these people with his left. You have to watch a 15 second ad before each one. I didn't know this was going on. I want my 40 acres and a mule!!!!
http://www.wsbtv.com/video/20349293/
http://www.wsbtv.com/video/20357875/
mark
Someone is shucking some BS, here, since when was a mortgage 11%.
Glad I read past the headline - thought this was about Rush Limbaugh.
DANG that Limbaugh! Is there ANYTHING he won't do?
I paid a point to get %5 fixed for 30. I want my money back...
Looks like there’s more ‘worthless’ bundling coming.
“Rush” is trying to refinance his multi-million dollar home in Dade County Florida? What a Hypocrite! This is intended for people who are financially unable to get low interest financing and can’t afford the interest rates they have now. “Rush” should be ridden out of town on a rail - tarred and feathered - ostracized and otherwise severely ridiculed.
Woops! I was just informed that it wasn’t “Rush Limbaugh” but rather that there “was a rush” to refinance by those who needed refinancing.
Never mind!
“Someone is shucking some BS, here, since when was a mortgage 11%. “
Some of the sub prime mortgages were high...because the people didn’t qualify in the first place. I suspect much of the cash for clunkers financing will be just as bogus.
Rush Limbaugh isn't trying to refinance hsi mortgage....it's that Canadian rock band that's trying to refinance.
Just remember - these people are doing Fannie-Freddie FHA loans. My brokers have warned me away from gov’t money enough to not worry too much about others falling for the attached strings.
No, it’s about the poor victims who were Savaged by predatory lending practices.
She has agreed to a selling price $8,000 less than payoff, and she is refi-ing that balance for the same reason. She will pay them every dime she owed.
She's white (yeah, I'm just being racist!), and has been stupidly paying her way! She voted for Obama! Now, she's searching for an apartment she can afford.
I voted for Sarah!
Down the road, they’ll find out the government owns their house, and owns them.
I know Rush is rich but who would have thought he would get into the mortgage business. Hey, I just read the headline.LOL
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